Elon Musk has chimed in on the conversation about politicians and their investments, reacting to Tucker Carlson and Tulsi Gabbard‘s discussion of Nancy Pelosi.
What Happened: Carlson and Gabbard discussed how political leaders like Pelosi have managed to amass significant wealth, potentially leveraging their policy knowledge.
Musk reacted to the snippet of the conversation posted by Mario Nawfal.
“I have no clue at all how Nancy Pelosi is just so rich or how her stock picks are, like, way better than Warren Buffett’s. How does that happen?” Carlson asked.
Gabbard, a former Congresswoman, responded, “There should be no perception that our elected leaders are profiting off of the knowledge that they have as policymakers that directly impact industry and businesses. That’s a no-brainer to me. I introduced legislation I was in Congress to do that.”
Why It Matters: The trading activities of congressional members, including that of Pelosi have been under scrutiny, especially from retail traders. A recent disclosure revealed Pelosi’s investment in a pre-IPO artificial intelligence company.
Previously, Pelosi’s transactions in NVIDIA Corporation options made her and her husband significantly wealthier, although they missed out on an even larger profit. This transaction was detailed in a filing from November 22, with the actual price estimated to be around $1.8 million.
An ETF tracking the stock trades of Democratic members of Congress, named after Pelosi, has outperformed the S&P 500, thanks in part to its significant tech holdings. This ETF’s success highlights the potential influence of congressional trading on market perceptions and investor strategies.
Image by Gage Skidmore Via Wikimedia Commons
Engineered by Benzinga Neuro, Edited by Pooja Rajkumari
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
